The consumer price index, which measures the rate of increase in the price of goods and services, in Nigeria, increased to 15.63 percent in December 2021.
This is contained in the latest report released by the National Bureau of Statistics (NBS). The rate is 0.23 percent points higher than the 15.40 percent recorded in November 2021. This implies that prices of goods increased in December 2021 but dropped when compared to the corresponding period of 2020.
According to the report, increases were recorded in all Classification of Individual Consumption According to Purpose (COICOP) divisions that yielded the headline index.
“On month-on-month basis, the Headline index increased by 1.82 percent in December 2021 — this is 0.74 percent rate higher than the rate recorded in November 2021 (1.08) percent.
The percentage change in the average composite CPI for the twelve-month period ending December 2021 increased by 16.95 percent from 16.98 percent over the average of the CPI for the previous twelve-month period recorded in November 2021 down by 0.03 percent points.” the report read.
In a heated response, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, has…
President Bola Tinubu, on Thursday, approved the appointment of three Nigerians as directors-general of various agencies…
The Edo State chapter of the Peoples Democratic Party (PDP) has expressed deep disappointment and anger over…
The body of the late Chief of Army Staff, Lieutenant General Taoreed Lagbaja, has arrived…
The federal government has unveiled a proposed budget of N47.9 trillion for the 2025 fiscal…
The WHO defines counterfeit drugs as those deliberately mislabeled to deceive consumers about their identity…